The Wenatchee World

Weather:

Weather

The latest extended forecast from The Weather Channel

Remove this weather forecast

Tonight

Lo50° Mostly Clear and Breezy then Mostly Clear

Memorial Day

Hi76° Sunny

Monday Night

Lo52° Mostly Clear

Tuesday

Hi81° Sunny

Tuesday Night

Lo55° Mostly Clear

Wednesday

Hi87° Sunny

Wednesday Night

Lo61° Partly Cloudy

Thursday

Hi82° Partly Sunny

Thursday Night

Lo60° Mostly Cloudy

Friday

Hi85° Mostly Sunny

IRS to treat bitcoin as property, not currency

Send to Kindle
Print This

LOS ANGELES — The Internal Revenue Service said Tuesday that bitcoin would be treated and taxed as property, a decision that is part of wider efforts to bring more oversight to the controversial digital currency.

In its first big ruling on bitcoin, the agency noted that “it does not have legal tender status” and will be taxed under codes that apply to property transactions.

View my options or Sign in